Investing

Goldman Sachs Maintains JinkoSolar Sell Recommendation

George Maybach

Published: August 15, 2023 11:15 pm

Last Updated: August 16, 2023 11:21 am

Fintel reports that on August 15, 2023, Goldman Sachs maintained coverage of JinkoSolar Holding Co. Ltd – ADR (NYSE:JKS) with a Sell recommendation.

Analyst Price Forecast Suggests 74.55% Upside

As of August 2, 2023, the average one-year price target for JinkoSolar Holding Co. Ltd – ADR is 62.59. The forecasts range from a low of 19.51 to a high of $86.10. The average price target represents an increase of 74.55% from its latest reported closing price of 35.86.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for JinkoSolar Holding Co. Ltd – ADR is 15,301MM, a decrease of 85.22%. The projected annual non-GAAP EPS is 5.89.

What is the Fund Sentiment?

There are 222 funds or institutions reporting positions in JinkoSolar Holding Co. Ltd – ADR. This is a decrease of 8 owner(s) or 3.48% in the last quarter. Average portfolio weight of all funds dedicated to JKS is 0.28%, a decrease of 43.43%. Total shares owned by institutions increased in the last three months by 3.23% to 20,969K shares. The put/call ratio of JKS is 1.62, indicating a bearish outlook.

What are Other Shareholders Doing?

Schroder Investment Management Group holds 2,567K shares representing 5.08% ownership of the company. In it’s prior filing, the firm reported owning 2,482K shares, representing an increase of 3.31%. The firm decreased its portfolio allocation in JKS by 72.27% over the last quarter.

Mackenzie Financial holds 2,184K shares representing 4.33% ownership of the company. In it’s prior filing, the firm reported owning 1,636K shares, representing an increase of 25.08%. The firm increased its portfolio allocation in JKS by 14.74% over the last quarter.

Invesco holds 1,713K shares representing 3.39% ownership of the company. In it’s prior filing, the firm reported owning 1,628K shares, representing an increase of 4.96%. The firm decreased its portfolio allocation in JKS by 88.42% over the last quarter.

Handelsbanken Fonder AB holds 1,494K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 1,187K shares, representing an increase of 20.52%. The firm increased its portfolio allocation in JKS by 1.46% over the last quarter.

TAN – Invesco Solar ETF holds 1,240K shares representing 2.46% ownership of the company. In it’s prior filing, the firm reported owning 1,179K shares, representing an increase of 4.93%. The firm decreased its portfolio allocation in JKS by 4.77% over the last quarter.

JinkoSolar Holding Background Information
(This description is provided by the company.)

JinkoSolar is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules, as of September 30, 2020.

This article originally appeared on Fintel